Switzerland Withdraws MFN Clause for India in Tax Treaty
Switzerland has suspended the Most Favoured Nation (MFN) clause in its Double Taxation Avoidance Agreement (DTAA) with India. This move…
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Why Income Tax Department has introduced new PAN 2.0 Project
The Union Cabinet approved the PAN 2.0 Project on Monday to make PAN the “single source of truth and data…
Income Tax Department can send income tax notice on these 5 high value cash transactions
Income Tax Notice: You will find many such people who prefer to transact in cash even in the age of Digital…
CGST Section 16 Revised: Taxpayers Gain Relief with New ITC Claim Provisions for 2017-2021
In a significant update to the Central Goods and Services Tax (CGST) Act, Section 16 has been amended with the…
6 income tax rules introduced in Budget 2024 to be effective from Oct 1. Check list
The STT applicable to futures and options (F&O) trading is set to increase from October 1, 2024. Specifically, the tax…
Intimation Under Section 143(1) of Income Tax Act
Section 143(1) of the Income Tax Act, 1961 is essentially a computer-generated automated message which lets the taxpayer know of…
Advance tax collection for H1 swells 22.6% to Rs 4.36 lakh crores
Advance tax collections in India increased by 22.61% to ₹4.36 lakh crores in the first half of the current financial…
Overseas Citizen of India (OCI) income tax depends on person’s residency status under I-T Act:
A foreign national applied for an OCI card based on her marriage to an Indian citizen, but her application was…
Net direct tax collection rises 22.5% to Rs 6.93 trillion till August 11
India’s net direct tax collection, with refunds adjusted, grew 22.5% to Rs 6.93 trillion between April 1 and August 11…
Special Drive To Weed Out Fake GST Registration Begins On Aug 16: CBIC
The second Special All-India Drive may be launched by all Central and State Tax administrations from August 16 to October…